MNT-Halan in Egypt successfully deploys proprietary core banking system software

MNT-Halan, Egypt’s leading fintech ecosystem, has announced the successful launch of Neuron, the proprietary core banking software that it developed and launched earlier this year.

MNT-Halan began as a ride-hailing app for two- and three-wheeler vehicles in 2018, and has since evolved into a super app, becoming Egypt’s largest and fastest-growing lender to the unbanked.

Through its consumer facing app, merchant app, distributed lending and payment processing software, and payment solutions, the startup’s proprietary fintech ecosystem connects customers, vendors, and micro-enterprises, as well as offering services such as ride-hailing and logistics.

Disrupt Africa reported in September that the company had received a US$120 million investment from major global and regional growth investors to further develop its product and expand internationally, and the company has now announced the successful rollout of Neuron.

This distributed system allows for the seamless management of millions of customers and multiple currencies. It also ensures maximum uptime, which ensures availability while maintaining complete control over customer data. It integrates all business functions through machine learning and AI to increase productivity, reduce default risk and credit exposure, and improve renewal rate.

“In just nine months, Neuron has had a huge impact on our business, fueling growth and allowing us to launch and provide multiple digital offerings.” Neuron has enabled us to expand our reach as we continue to serve the underbanked in Egypt and beyond. Customers, whether merchants or individuals, benefit from Neuron’s speed, security, ease of use, and availability.

Not only are all of our services now delivered digitally, but Neuron also enables new product offerings like BNPL, e-commerce, and supply chain finance. “We are excited to see MNT-Halan reach the next level of growth and expansion as customers continue to embrace and expect the experience that this proprietary technology provides,” said Mounir Nakhla, CEO of MNT-Halan.